Bangladesh Oil, Gas and Mineral Corporation (Petrobangla)

Petrobangla is managing a severe energy supply crisis caused by depleting domestic reserves and reduced LNG imports while attempting to accelerate exploration.

Establishment: The 1972 Presidential Order No. 27 (26 March) created BOGMC; Ordinance No. 15 of 22 August 1974 reconstituted it as BOGC with the Petrobangla short name; Ordinance No. 21 of 11 April 1985 merged BOGC and BMEDC into the current Bangladesh Oil, Gas and Minerals Corporation; the Government Order of 28 February 1989 confirmed the Petrobangla short name and expanded mandate. Established_year set to 1972 (organisational lineage origin); legal_basis cites the 1985 ordinance as the current constitutional instrument. Chairman: Md Arfanul Hoque took charge ~17 February 2026 (head_since aligned to cabinet inauguration date per TBS report); predecessor Md Rezanur Rahman (joined January 2, 2025) was transferred to BPC chairmanship on 2 February 2026. 8/3 spot/contract cargo mix for May 2026: pre-crisis plan was 9 contract + 2 spot; post-force-majeure reversal is 3 contract (surviving) + 8 spot (sourced via competitive tender). LNG spot price: USD 21.77/MMBTU average for March-April 2026 (TBS), up from USD 10.18/MMBTU pre-crisis. Gas allocation: power plants 935 MMCFD priority; industries ~994 MMCFD vs 1,306 MMCFD demand (312 MMCFD gap); fertiliser 85 MMCFD vs 329 MMCFD demand (74% shortfall). BAPEX Bhola drilling: Sinopec International awarded five-well project (Tk 907.29 crore) covering Shahbazpur-5, -7, Bhola North-3, -4, and Shahbazpur North East-1; 9 wells already drilled projected at 182 MMCFD collective capacity. Staff count and BDT budget for Petrobangla corporate entity not publicly available in accessible form; subsidiary budgets embedded in EMRD ADP. Verification based on 2+ primary sources for all material claims. [2026-06-08 audit correction] Chairman updated to Abdul Mannan (appointed 17 May 2026); established year corrected 1972 -> 1974 (Ordinance 15 of 22 Aug 1974).